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20121202
20121210
Search Results 0 to 5 of about 6 (some duplicates have been removed)
the medicare eligibility age to 67 over a certain amount of time. making changes to cost of living. statements to soegt social security. right now there is nothing on the table. that was obama's opening bid. the republicans were miffed at him, they knew he wouldn't give them exactly what they'd accept. a few said they were inch superintendented like that. again you don't want to negotiate with yourself, you want to start over here and get in the middle to set up some type of deal. don't expect any deal until christmas at the earliest. >> reporter: let's go back to the tax cuts you're talking about. president obama wants to raise revenue by taxing those making $250,000 or more a year. it rises from 33% and 35% today to 36% and 39.6%, i believe. but that would only generate about 85 billion a year. according to the treasury department, the federal government spends that amount every eight 1/2 days. do you think that the point is purely political for the president since that's what he campaigned on? >> that is what speaker john boehner said, is that washington has a spending problem, not a tax pr
no details on what deductions they'll limb nature, loopholes they will close or which medicare savings they would achieve. house speaker john boehner inc insists his offer is the best one on the table calling it a credible plan that deserves serious consideration by the white house. jenna: mike emanuel is with us. certainly a challenge to find this ideal plan. what is holding it up. >> reporter: the chairman of the senate budget committee wants a large come proceed hence i have deal in the range of $5 trillion and says a grand bargain can get done if everybody kaoels cool and doesn't overreact to every valley over the net. he this is a camp david-style summit might help things move around. a senate republican told greta van susteren it's time to be honest about retirement benefits. >> you and i need to pay a little more into the system because we can afford it. that is the kind of entitlement reform we need. >> reporter: that gets older americans and their groups all worked up thinking you could be messing with their benefits. jenna: a hot toeupb hot topic, and taxes. it seems they nee
made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more. reporter: yes, what is clear is increasingly, the two sides -- the obama, white house, senate democrats on one side, senate republicans on the other, there is a ticking clock involved here. they should be hitting their stride right about now. timothy geithner is trying to avoid plunging of the fiscal cliff. he has made clear that the obama administration is saying that the first order of business has to be to extend tax breaks for middle-class families and raise tax rates for the top 2% of income earners. talks over how to rein in entitlement spending should be held sometime next year. >> the president is asking for $1.6 trillion of new revenue over 10 years. twice as much as he has been asking for the public. his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: enter a new player in the talks, stephanie cutter. you remember her? she was the deputy campaign
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to issues such as the extension of unemployment benefits, social security, medicare, freidman would have argued that it's the better course to cut spending in those areas now rather than defer indefinitely on making real spending cuts. the current agreement was hammered out in august of 2011. what typically happens is that spending cuts are promised in the future, but they never materialize, the taxes are raised anyway. that is exactly what would happen under this circumstance, taxes would be raised, spending cuts would be promised in the future but when that deadline is reached we won't make the spending cuts. so at this point in time what is really being talked about is strictly a tax increase and freidman would have opposed that. jenna: i don't need to tell you that, there's certainly been critics of milton freidman out there. if you take the criticism together this is what they say. there is a time and police for government, there is a time and place where government can serve the economy, and that was opposed to what milton freidman said, but in general, you know, what do you think
Search Results 0 to 5 of about 6 (some duplicates have been removed)

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